Nomura Asset Management Co. Ltd. Buys 6,418 Shares of Molson Coors Beverage (NYSE:TAP)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,767 shares of the company’s stock after purchasing an additional 6,418 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,380,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $42,000. Finally, True Wealth Design LLC bought a new stake in Molson Coors Beverage in the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $61.07 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a market cap of $12.58 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The business’s fifty day moving average is $58.53 and its 200-day moving average is $55.00.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. Sell-side analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.88%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TAP shares. JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Needham & Company LLC assumed coverage on Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.